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The 10:40am bar close above the 20 EMA produced the kind of follow thru to be expected in a reversal. I guess the pending inventory report subdued the previous close above 20, although that one still had some upside before pulling back. My friend Bighog alerted me to this strategy a while...

I have to agree with you there!

That close above the 20 didn't produce much follow thru.

If we close this bar above the 20, reversal is confirmed (double bottom at major support zone, followed by higher low, followed by break through the now-flat 20 EMA). I'm waiting till after inventories to evaluate a trade though. I haven't traded a single thing today. Still reliving my finger...

Looking at the chart at that time with a hard right edge, I can see that as perfectly logical. Now if you told me you shorted @ 82.47 during the 5:50am bar and only took 10 ticks, then I'd think you'd hit the bottle a bit too early :p

Yes. Are you guys holding your positions through the numbers?

Careful, CL is not ES.

Looks like short every "rally". I hesitated to pull the short trigger at 81.32 off the internal DT (failed break thru prev R) because I had that "too low" bias and just missed a 77-tick move from there. :(

I used to get into counter-trend trades too early all the time because I thought there was a level where they should bounce/fall. When price hasn't yet tested the next support/resistance level, wait for it to happen. In a trend, next levels are tested and broken through. That's what defines a...

Nearly spit tea on my vintage 1986 IBM Model M clickety-click keyboard :eek:

Took my $445 simbucks @ 82.48 and calling it a night. If I get insomnia, I'll be back later :p

Moved stop to .44. I am so sad I didn't trade this live :confused:

How would you manage a swing trade, entering at this level? Would you place a stop, or would you just average down and take profits on the eventual pivot and move back up?

Stop to 82.36. What's with the gap from 82.26 to 82.36? Is that a common occurrence this time of day or is my chart gone bonkers?

We have long signal! We have long signal! Double bottom, followed by a close above the 20-bar MA, and now a break through previous resistance! I went long in sim @ 82.03 just before 9:42pm ET on the break thru the 20 (stop now @ 82.10). If this after hours sim success continues, I'm gonna...

Market professionals, please explain: RDN has 83% institutional ownership, meaning "smart money" (I use the term loosely here) is heavily invested in this company. I'm looking at their earnings over the past 3 years and, well, there aren't any. 2007: -3.70/EPS 2008: -9.51/EPS 2009...

It's a bit like a "pudding", I believe, except more vocal what with all the lying and such. Cheers :D

Thanks, EON. I really have difficulty entering strong trends once they're underway because they never pull back much before resuming. I like to catch early reversals and actually I was watching for a reversal signal to the long side once 84.00 broke down. I daringly placed "3" in my qty field...

I looked at the previous breakdown. The previous new low was about 70 ticks from the low before that (84.42 - 83.72). I didn't think we'd get a full measured move, but I figured it might fall at least 40-50 ticks from the 83.72 low, which would place us in the 83.22 - 83.32 zone, and the pivot...

If you hold overnight, you can say that now, in retrospect; but seriously, when was the last time we woke up to a "white swan event" where the market gapped up 500 points or more? The chances of a news-driven disaster move down is far greater than a move of similar magnitude to the upside. So if...